Sanlam’s mass market momentum
In contrast to Old Mutual’s almost entirely organic development strategy, Sanlam Retail Mass is largely a portfolio of acquisitions
07 November 2024 - 05:00
Sanlam’s original mass market business was Metropolitan Life. This was generally considered the first significant black empowerment deal when in 1993, then Sanlam chair Marinus Daling sold control of the business to a consortium headed by struggle veterans Nthato Motlana and Dikgang Moseneke.
When Johan van Zyl was appointed group CEO in 2003, he said Sanlam had “sold the future” when it sold Metropolitan. Along with the sale, there was a 10-year noncompetition agreement preventing Sanlam from entering the funeral policy market. ..
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